NOT LISTED FOR SALE
6 Beds
5 Baths
3,166 Sq Ft
6,098 Sq Ft Lot

Last Sold January 11, 2022

Last sale price $1,350,000 $426 Per Sq Ft

6 Days on Market

Highlights

  • No HOA
  • Laundry Room
  • 4-minute walk to Paularino Park
  • Paularino Elementary School Rated A-

About This Home

As of January 2022

Amazing opportunity to own 3 units in a prime location in Costa Mesa. Walking distance to shopping and restaurants, a short walk to Paularino Elementary School, less than a mile to South Coast Plaza, 2 Miles to John Wayne Airport and minutes to Orange Coast College. This great location is close to three freeways, the 405, the 55, the 73-toll road and a short car ride to the beach. This spacious 3,166 square ft property consists of a front single story 2 bedroom and 1 bath unit and two townhouse style 2 story units with 2 bedrooms and 1.5 baths. There is a 3-car garage at the back of the property and there is additional parking for each unit. All 3 units have their own patio area and indoor laundry space. There is plenty of room for upsizing the rents at this location. This property is fully occupied so please drive by only, do not walk the property or contact any of the tenants. The interior can be inspected with an accepted offer. This property is well priced and is being sold as is.

Last Agent to Sell the Property

Mike Monaghan

Lombardi Realty License #01379777 Listed on: 12/21/2021

Last Buyer's Agent

Louis DiGonzini

eXp Realty of Southern Ca, Inc License #01502775

eXp Realty of Southern Ca, Inc

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1962

Lot Details

  • 6,098 Sq Ft Lot
  • Two or More Common Walls
  • Density is 2-5 Units/Acre

Parking

  • 3 Open Parking Spaces
  • 3 Car Garage

Home Design

  • Property Attached

Interior Spaces

  • 3,166 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 5 Bathrooms

Laundry

  • Laundry Room
  • Laundry in Kitchen
  • Washer and Gas Dryer Hookup

Additional Features

  • Suburban Location
  • Natural Gas Connected

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas, telephone
  • Tax Lot 31
  • Tax Tract Number 4281
  • Assessor Parcel Number 14114303
  • $1,625 per year additional tax assessments

Community Details

Overview

  • No Home Owners Association
  • 3 Units
  • Costa Mesa Residential Income Subdivision

Building Details

  • 3 Separate Electric Meters
  • 3 Separate Gas Meters
  • 1 Separate Water Meter
  • Insurance Expense $1,150
  • Maintenance Expense $3,304
  • Professional Management Expense $1,150
  • Water Sewer Expense $1,367
  • New Taxes Expense $15,000
  • Operating Expense $21,971
  • Gross Income $52,200
  • Net Operating Income $30,229

Property Details

Home Type

Multi-Family

Year Built

Built in 1962

Lot Details

0

Parking

3

Listing Details

  • Assessments: No
  • Price Per Unit: 416667
  • Professional Management Expense: 1150.00
  • Property Attached: Yes
  • Subdivision Name Other: Costa Mesa Residential Income (CMRI)
  • Water Sewer Expenses: 1367.00
  • Property Type: Residential Income
  • Parcel Number: 14114303
  • Year Built: 1962
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Levels: Two
  • Price Per Square Foot: 426.41

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 3.00
  • Total Parking Spaces: 6.00
  • Uncovered Spaces: 3.00

Utilities

  • Utilities: Electricity Connected, Natural Gas Connected, Water Connected
  • Laundry: Yes
  • Laundry Features: Gas Dryer Hookup, In Kitchen, Washer Hookup
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs, Sidewalks, Suburban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 2-5 Units/Acre
  • Lot Size Sq Ft: 6098.00
  • Lot Size Acres: 0.1400

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas, Telephone

Multi Family

  • Gross Income: 52200.00
  • Gross Scheduled Income: 52200.00
  • Insurance Expense: 1150.00
  • Lot Size Area: 6098.0000 Square Feet
  • Maintenance Expense: 3304.00
  • Maintenance Percent: 1250.00
  • Net Operating Income: 30229.00
  • Number Of Separate Electric Meters: 3
  • Number Of Separate Gas Meters: 3
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 3
  • Operating Expense: 21971.00
  • Rent Control: No
  • Total Expenses: 21971.00

Tax Info

  • New Taxes Expense: 15000.00
  • Tax Census Tract: 639.03
  • Tax Lot: 31
  • Tax Tract Number: 4281
  • TaxOtherAnnualAssessmentAmount: 1625.00

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
01/11/2022 01/11/22 Sold $1,350,000 +8.0% $426 / Sq Ft
12/27/2021 12/27/21 Pending -- -- --
12/21/2021 12/21/21 For Sale $1,250,000 -- $395 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC21267567

California Regional Multiple Listing Service (CRMLS)

APN: 141-143-03